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Pancontinental completes exploration exercise

15 April 2014, 10:17

Nairobi - Pancontinental Oil and Gas has announced the completion of exploration of oil and gas at off-shore Kenya at the Sunbird-1 well.

The firm said analysis of recovered samples was ongoing.

“Both gas and liquid samples have been recovered,” the firm stated.

The Pancontinental statement added that the well had intersected a hydrocarbon-bearing zone in the top of the Sunbird Miocene Pinnacle Reef and that gross hydrocarbon column is of approximately 44 metres.

"Analysis of recovered gas and liquids samples continue to be analysed."

The firm further stated that at this stage, due to its estimated size, the Sunbird discovery itself was considered unlikely to be commercial.

A further statement regarding the discovery will be made once the remaining analyses have been completed.

In addition to the recovered gas, the nature of the liquid samples and whether or not these contain naturally occurring hydrocarbon liquids (oil or condensate) remains to be determined by further analysis.

Pancontinental is however optimistic with the Chief Executive Officer, Barry Rushworth, saying they looked forward to receiving the full and final Sunbird results.

“We believe that we are now in an excellent position to explore for larger volumes of gas and oil over our very extensive portfolio of prospects and leads offshore Kenya,” he said.

Pancontinental has an 18, 75 percent interest in the well and block L10A.

 - CAJ News

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